InTrack Investment Management Inc Purchases 2,457 Shares of Apple Inc. $AAPL

InTrack Investment Management Inc raised its position in Apple Inc. (NASDAQ:AAPL) by 11.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,052 shares of the iPhone maker’s stock after buying an additional 2,457 shares during the period. Apple accounts for about 3.3% of InTrack Investment Management Inc’s investment portfolio, making the stock its 5th biggest position. InTrack Investment Management Inc’s holdings in Apple were worth $4,935,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Avid Wealth Partners LLC lifted its position in Apple by 28.3% during the 1st quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock valued at $935,000 after purchasing an additional 930 shares during the period. Bell & Brown Wealth Advisors LLC lifted its position in Apple by 0.4% during the 1st quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock valued at $13,772,000 after purchasing an additional 240 shares during the period. American National Bank & Trust lifted its position in Apple by 2.4% during the 2nd quarter. American National Bank & Trust now owns 195,482 shares of the iPhone maker’s stock valued at $40,107,000 after purchasing an additional 4,543 shares during the period. Andina Capital Management LLC lifted its holdings in Apple by 209.2% in the first quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker’s stock valued at $1,507,000 after buying an additional 4,591 shares during the period. Finally, Plum Street Advisors LLC lifted its holdings in Apple by 4.0% in the first quarter. Plum Street Advisors LLC now owns 7,889 shares of the iPhone maker’s stock valued at $1,752,000 after buying an additional 301 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Apple

In related news, CEO Timothy D. Cook sold 129,963 shares of the firm’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the sale, the chief executive officer directly owned 3,280,295 shares in the company, valued at $842,412,558.95. This trade represents a 3.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Kevan Parekh sold 4,199 shares of the firm’s stock in a transaction on Thursday, October 16th. The stock was sold at an average price of $247.39, for a total transaction of $1,038,790.61. Following the sale, the chief financial officer owned 8,765 shares in the company, valued at approximately $2,168,373.35. The trade was a 32.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 259,121 shares of company stock valued at $65,358,981. Insiders own 0.06% of the company’s stock.

Apple Trading Down 0.4%

Shares of NASDAQ:AAPL opened at $270.37 on Monday. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $277.32. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The company’s fifty day simple moving average is $248.34 and its 200 day simple moving average is $222.34. The firm has a market cap of $4.01 trillion, a price-to-earnings ratio of 41.03, a PEG ratio of 2.62 and a beta of 1.09.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.11. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business had revenue of $102.47 billion for the quarter, compared to analyst estimates of $101.65 billion. During the same period last year, the business posted $1.64 earnings per share. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, research analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Monday, November 10th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, November 10th. Apple’s dividend payout ratio (DPR) is presently 13.92%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on AAPL shares. DA Davidson increased their price objective on shares of Apple from $250.00 to $270.00 and gave the company a “neutral” rating in a report on Friday. Weiss Ratings restated a “hold (c+)” rating on shares of Apple in a report on Wednesday, October 8th. Raymond James Financial restated an “outperform” rating and issued a $240.00 price objective (up from $230.00) on shares of Apple in a report on Friday, August 1st. BMO Capital Markets restated a “buy” rating on shares of Apple in a report on Wednesday, August 13th. Finally, Melius Research set a $345.00 price objective on shares of Apple in a report on Friday. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $276.39.

Apple Company Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.